The courts in Colorado require that parties dealing with divorce or parental responsibilities be financially transparent to the other parties and the Courts. In order to understand parties’ financial situations, the courts provide a form to complete, known as the Sworn Financial Statement. This form requires parties to fill in their sources of income, their monthly expenses, their debts, and their assets.
The form the Court uses can be a little daunting at first. Start with just the basics, and remember that not everything on the form will apply to you.
On the other hand, it pays to spend some time when entering your debts and assets. If you’re going through a divorce, the courts and the other party will look at these numbers to start assessing the division of the marital estate. If you have accurate numbers, you’ll get a better division of property and debt.
Parties often worry that their financial situation may not be constant through the court process, and hesitate to put their information down for the Court. It’s important to know that in terms of amounts, financial situations may fluctuate, but the Court wants to see a snapshot of where things are at the time of filing. There is always the option to submit an updated statement as the proceedings move forward.
Here’s an Easter egg for you: in the movie Office Space, the Colorado Sworn Financial Statement form is posted on Peter’s cubicle wall. It just looks like a complicated form, but it’s easier than it looks!
